Latest in Tag: gulf Highlight
Latest in Tag: gulf
Low incoming tourism to Egypt pushed tourism workers to work in other economic sectors; Egyptian hotels face big challenges training workers, says adviser to tourism minister
Heads of states and foreign delegations land in Cairo for the Sunday ceremony
White House says it is looking forward to working with Egypt’s new president, but also shared concerns
Bahraini ministry expresses continued support for Egypt’s roadmap
Discussing the changes in fiscal policies, Al-Sisi’s economic platform stated that budget deficit and public debt should return to “safe levels”.
The aid helps reduce the heavy costs of government fuel subsidies and the drain on foreign exchange reserves.
Gulf air force exercises intended to deepen Bahrain-Egypt strategic relationship
The Sharjah-based budget carrier, which currently operates out of three hubs in the Gulf and North Africa region, signed an agreement with the RAK government in February declaring it the official carrier for the emirate and RAK airport as its new hub.
Reuters – Egypt’s foreign reserves rose to $17.414bn in March from $17.307bn in February, the Central Bank said on Monday. Reserves fell sharply after a 2011 uprising that ousted President Hosni Mubarak but were lifted last year when Gulf Arab states gave billions of dollars in aid to the army after it deposed elected Islamist …
Reuters – Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers has called a meeting of creditor banks in Dubai on 7 May to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Maan …
Bread is a politically-explosive issue in Egypt – failure to deliver it at an affordable price has triggered major riots in the past and the government wants to boost its storage capacity to reduce its reliance on international markets.
The head of the Syrian National Coalition, Ahmed Jarba, repeated calls on the international community to supply rebels with “sophisticated weapons”.
Relations between Egypt and the Gulf state have been strained over Doha’s backing for Islamist president Mohamed Morsi, who was ousted by the army in July following nationwide protests.
Final stage of the two-week joint exercise is set to commence within the next two days
The construction company said on Sunday that it had agreed with the Egyptian army to build the homes at 13 locations around the country on land provided free by the armed forces, which own a large amount of financial assets and real estate.
What was behind Gulf states’ diplomatic isolation of Qatar?
Reuters – Egypt’s shares rose slightly on Monday after a deal between the country’s army and a Dubai builder for an affordable housing project worth EGP 280bn ($40.2bn). Cairo’s benchmark index advanced 0.5%, recovering early-session losses and boosting 2014 gains to 17.6%. Under a deal with Cairo’s army-backed government, Dubai’s Arabtec will build one million …
United Arab Emirates praises recent Saudi decision to list the Brotherhood as a terrorist organisation
The International Transport Workers’ Federation (ITF) is running a campaign against Qatar Airways over its monitoring of staff and rules preventing women from becoming pregnant and getting married.
Air and naval forces two-week joint exercise latest example of Egypt-UAE cooperation
The survey showed great optimism towards Egypt with 53% of managers expect to raise their equity allocations
Although some Arabs are fantasising about it, a major alliance with Russia is unwise both morally and practically
Reuters – Saudi Arabia’s economy chugged along at modest annual growth rates of around 2.5% in the first three quarters of 2013. Then in the fourth quarter it soared, with gross domestic product jumping 10% from a year earlier. That is the picture delivered by data from the government’s statistics office. But it is not …
Dubai-based retail group Majid Al Futtaim (MAF) has plans to invest around $2.3bn in Egypt over the coming years
Reuters – Bankers and academics in Italy are stepping up efforts to develop Islamic finance in the country, a campaign which could benefit from growing economic links between Gulf countries and the euro zone’s third largest economy. Islamic finance has so far made only marginal progress in continental Europe, mainly in France and Germany. But …
GMS plans to sell new shares worth $100m, as well as an undisclosed number of shares currently held by private equity backers
Kuwait topped the Gulf Cooperation Council (GCC) countries on the press freedom list but dropped 14 points to rank 91st worldwide.
The first step was the disposal of the two very large crude carriers (VLCCs), and this week Gulf Navigation said it had agreed their sale to Bermuda’s DHT Holdings for $98m.
The investment plan is positive for Egypt’s army-backed government, which is trying to attract foreign money back to the country and create jobs to ease social discontent as it manages a difficult transition to elections this year.
The Gulf country has recently announced measures to boost the Egyptian economy